Phemex Referral Code H7QPW (Bonus)

Just here for the phemex fee discount?

Thank you for coming to our TED talk.

Just here for your Phemex welcome bonus?

Thank you for coming to our TED talk.

Phemex KYC

Phemex does not require KYC.

Deposits, trading and (limited) withdrawals in BTC, DOGE, AAVE, USDt, ETH, XRP and LINK are available right after signup.

Deposit bonuses are also available to any user, as well as “Phemex Earn”, a savings account with up to 10% APY.

Phemex & US Customers

Residents of United States of America are restricted from holding positions or contracts on Phemex. VPN will pass on Phemex, but since trading from the US is a breach of terms of service, Phemex might terminate your account and close your positions at any time.

Trading on Phemex

Phemex exchange is a crypto trading platform focusing on cryptocurrency derivatives. Phemex has both the spot and contract trading for crypto markets, though.

The platform makes buying and trading crypto accessible to beginners.

In that spirit, Phemex also runs their own testnet version for novice traders who want to learn the skill by paper trading. You can access Phemex testnet at testnet.phemex.com.

Phemex also provides a knowledge base of tutorials and how-tos in both text and video versions. Youtube playlist of Phemex tutorials here.

To sum it up, Phemex is following the trends rather than innovating, and is making trading user-friendly.

That means they are attracting the new altcoin trading crowd that is always looking for where it’s at. For instance, recently Phemex added DOGE/USD and AAVE/USD contracts with up to 20x leverage due to popular demand.

Phemex Fees

The Phemex fee and leverage structure is pretty much modeled after BitMEX: You get up to 100x leverage with 0.075% taker fee and -0.025% for maker. That is, market makers get a fee rebate on Phemex.

The flagship product of Phemex is likewise one we’d seen on BitMEX first: the BTCUSD perpetual swap.

Fiat options on Phemex

Unlike on BitMEX, Phemex lets you settle you leveraged positions in fiat as well - that is also your perps trading can be settled in fiat.

You can also deposit and withdraw fiat at Phemex.

Mobile trading on Phemex

Phemex does provide a native smartphone app. You can find it on the App Store and Play Store as released by PHEMEX TECHNOLOGY PTE. LTD..

Phemex Premium Accounts

Phemex traders can opt into Premium account options.

Premium accounts are a paid feature billed as a subscription, but you can also get your premium account as a reward for social media shilling.

Premium users have higher withdrawal limits and zero fees for spot trading through the web app or smartphone app.

Phemex Bonuses

Phemex has a long-running set of bonuses for deposits and trades over certain USD value.

There are additional bonuses and competitions that are offered timely to catch traders’ attention. After the Elon Musks tweets about Dogecoin there was a DOGE giveaway for instance.

Get Phemex deposit bonus

In addition to bonuses, there is the Phemex Savings account. Tether deposits that you lock in your Savings account (you will see the option in your account dashboard) get 10% APY. Phemex claims to get that profit from their own trading activites and also claims to cover any losses.

So far, Phemex does not offer a staking pool for earnings.

Phemex Company

Risk Note: Phemex is new in the business, does not require KYC and limits withdrawals, therefore proceed with caution.

Phemex is a Singapore-based cryptocurrency business.

Phemex operates as PHEMEX TECHNOLOGY PTE. LTD. for the IT side of their platform and as PHEMEX FINANCIAL PTE. LTD. for their brokerage activities. Both companies are located at the same address and were only incorporated in January 2020.

Phemex Address

100 TRAS STREET
#16-01
100 AM
SINGAPORE (079027)

The initial focus of Phemex was on an easy-to-use cryptocurrency wallet with a built-in way of purchasing bitcoin through the fiat payment channels popular in Southeast Asia, such as Union Pay.

Over time Phemex expanded to build a derivatives trading platform.

Phemex is a custodial platform and is new in the trading industry. They claim their contract trading platform is the fastest one in the crypto trading industry, but given they are not as widely popular as some other trading platforms, that claim is obviously untested.

The platform that so far stood best the test of time and user load is still Bitfinex, which also recently opened some derivative markets, btw.

For smaller traders though, the Phemex fees will come lower in comparison.

Get Phemex deposit bonus